Oh no you have lend money to a friend, now what?

Lending money to friends can be risky business and might also put a strain on the friendship. At times, You don’t know how long you should wait before reminding them they owe you money and how you should remind them without sounding demeaning.

Is there a fixed time?

Let me tell you something; I don’t think there’s a fixed time set for how long you should wait before asking your friends to pay back the money they owe you.

Some friends are quick in giving back the money they owe you, so I don’t think you have to point out to them about the money; however, some people are slow when it comes to giving back the money they owe their friends and often ignore it.

In situations like these, I don’t think you should wait that long; probably a week would be enough. And then remind them in a friendly manner that they owe you money.

What’s the set amount?

If it’s something as small as Rs. 1000, I don’t think I would ask my friends to pay that back, but if they owe me a couple of hundred thousand, I would ask them to pay that back as soon as possible.

What to do?

If you are someone who has difficulty asking your friends to pay you back, let me make it simple for you. First of all, wait for at least a week, and if they don’t pay back during that time, send them a friendly reminder about it.

And even if that doesn’t help, ask them to meet you and politely, in the middle of the conversation, remind them that they owe you money, and if that person is just a casual friend, be straight with them and respectfully ask them to pay you back.

And always remember that there’s nothing rude in asking your friends to pay back your hard-earned money.

Join Our Knowledge Hub: Sign Up for Diverse Insights Today!